Why Discovery Shares Are Rising Today

Why Discovery Shares Are Rising Today

Discovery Inc DISCA is trading higher Friday following bullish analyst coverage from BofA Securities.

BofA Securities analyst Jessica Relf Ehrlich upgraded Discovery from a Neutral rating to a Buy rating and raised the price target from $34 to $45.

Ehrlich believes the company's merger with WarnerMedia could potentially create a "global media powerhouse" driven by creative and content leadership.

The BofA Securities analyst also pointed to the stock's risk/reward profile, calling it "extremely favorable" at current levels.

Discovery is one of the largest global media providers with over 2 billion cumulative subscribers in over 220 countries.

See Also: Why Absci Shares Are Soaring Today

DISCA Price Action: Discovery has traded as low as $21.65 and as high as $78.14 over a 52-week period.

The stock was up 13.3% at $29.11 at time of publication.

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